Posted on 03/03/2010 5:39:05 AM PST by EBH
Congratulations. I admire you.
it was just a matter of staying the course mostly. I didn’t whine about it, nor cry to my congresscritter. I simply paid what I owed.
I bought a home, not an investment.
What is an underwater mortgage? Is that a mortgage on some of that Oceanfront Property in Arizona George Strait was talking about?
:-)
I bought a home, not an investment
are you creepy?
You don’t understand... no I don’t believe that... you refuse to admit you fully understand this case. There is no moral obligation to the banks that took TARP- none.
Of course you support TARP, you job depends on it.
LOL, you all are hillarious.
Should have gave the TARP money directly to home owners.
Ok...I am your rich Auntie. I loan you $100,000. You agree to pay me back. Even sign an agreement to do it. Later I go on to win the lottery...you don’t morally owe me because I no longer have a financial risk?
My winning the lottery has nothing to do with your moral responsiblity to pay back what you were loaned.
Did you pay your taxes? If so, then yes...you bought a ticket.
Did you take out the loan? Then yes. Part of your payments went to pay for me to buy my lottery ticket.
Ps. Part of your payment was used to buy my lottery ticket.
How that money is used after the transaction is none of your concern in a capitalist system.
It still doesn’t relieve you of your obligation.
LOL... you bankers are weak. I think I’ll become a banker, because with your logic I am sure to be a top dog quickly.
Your signature was an agreement to make payments and that if you didn’t then the bank would take back the property. That’s not an oath or vow, it’s a business contract, you agree to do x and if not then the bank will do y. And by the way this is not pain free, your credit score will be trashed for the next 7 years which will really be a big impact in a credit based society.
So the question is what is more “moral”, putting your families best interest or the banks best interests first? In my book it is always the families best interest that should win.
My family are all small-town bankers, face-to-face, eye-to-eye, handshake to handshake.
We have seen and dealt with the likes of Porterville all our lives.
There are those who lie and cheat, and we all know them and deal with them as we must. Worse still are the liars and cheats who so with a self-endowed sense of moral and intellectual superiority: I take advantage of you because I am brilliant, and you are stupid.
Actually it doesn’t take much to be a crook these days. Look at the fools and scoundrels on Wall Street; look at the clowns and hucksters in Washington.
The way a conservative, a man of honor, ought to combat the likes of the liars and swindlers is to avoid becoming one. If Porterville wants to join their ranks, fine for him.
I will go the other way, and I will go far out of my way to avoid his like.
Ha, ha, ha..
man you are rich. Morally obligated to forclose on Grandma... and you call me a cheat low down liar...
How do you look in the mirror?
I deal with folks like you daily too. Eat you for lunch.
thanks!
Like not securing a loan you cannot pay back in the first place and putting your family at risk.
People on this tread act as though banks have never had to foreclose on properties. They’ve foreclosed on properties ever since the concept of mortgages. There are times when they make money through foreclosed properties and there are times when they’ve lost money through foreclosure. These days, they’re losing more than making. Ten years from now...who knows. The business of business is business. Banks can take care of themselves. You and your family need to take care of yourselves.
True I have no real sympathy for most of the people that did this, weather it was fear of being priced out of the market or greed of wanting in on the insane amount of money some people were making it still boils down to a stupid decision (in hind sight). But you shouldn’t compound that stupid decision with another that will put your family in even more jeopardy. On the other hand if you can afford the pain then I would expect you to man up and work through it. Not like I haven’t been there, bought a condo in 1990 at the peak in So. Cal. and ended up selling it for a $70K loss. Could have walked away from it but didn’t because it was not a serious threat to my families survival. Painful lesson though.
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